Recove Ventures to Invest Over INR 500 Crore in Maharashtra for Plastic Recycling Network

Recove Ventures Pvt Ltd has entered into a 10-year agreement with the Maharashtra government to develop a large-scale recycling and circular manufacturing ecosystem in the state, with planned investments exceeding INR 500 crore across waste processing and recycling infrastructure. The memorandum of understanding was signed in Mumbai earlier this month between the Department of Industries, Government of Maharashtra, and the company’s founders.

Under the agreement, the company will invest in waste processing, recycling, material recovery, aggregation, and allied circular manufacturing activities over the next decade. Recove stated that the initiative would focus on creating an organized recycling network for plastics, particularly high-density polyethylene (HDPE) and polypropylene (PP) materials, which are widely used in packaging, automotive components, and consumer products.

In the first phase of the program, the company plans to create infrastructure capable of processing 5,000 tonnes of plastic waste per month. Over the course of the partnership, this capacity is expected to scale to as much as 100,000 tonnes annually as the company expands into additional recyclable material streams.

The first investment under the framework will be an advanced HDPE and PP recycling facility at Additional Jalgaon MIDC in Jalgaon district, which has been categorized as a priority D+ industrial zone. The project will involve an investment of more than INR 35 crore and will have an installed processing capacity of 1,100 tonnes per month. The company said the facility is expected to be commissioned between October and December 2026.

According to the company, the Jalgaon plant will use extrusion and granulation technologies along with deep-vacuum deodorization systems to manufacture industrial-grade recycled plastic granules intended for packaging, automotive, and consumer goods applications. The project is expected to generate around 100 direct jobs and more than 1,500 indirect employment opportunities.

The Maharashtra government stated that it would facilitate priority consideration for land allotment in MIDC areas and future circular economy parks for subsequent projects proposed under the agreement. The state will also extend support through single-window clearances and consideration of incentives available under existing industrial policies.

Recove co-founder Viral Chhajer said Maharashtra offered the industrial ecosystem, policy support, and market access required for scaling recycling infrastructure. The company stated that the project aimed to create systems capable of converting post-consumer plastic waste into industrial-grade raw material for reuse in manufacturing supply chains.

The investment comes amid tighter Extended Producer Responsibility (EPR) regulations requiring brands to increase the proportion of recycled plastic content used in products. Industry estimates cited by the company indicated that recycled plastic usage requirements could rise from around 30 per cent currently to nearly 60 per cent over the next few years.

Recove currently operates facilities in Pune and Bengaluru. The company said its Pune pre-processing unit commenced test operations in April 2026, while its Bengaluru facility is processing more than 415 tonnes of plastic waste each month.